Exxaro tumbles after profit warning

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Coal

Independent Newspapers

Johannesburg - Shares in Exxaro Resources fall nearly 4 percent in a late afternoon trade after the coal producer warns full-year profit likely fell more than 20 percent.

Its stock is trading 3.7 percent lower at 150.35 rand.

The company says 2013 results were affected by an artificially high base on 2012 performance caused by once-off profit from the sale of assets. - Reuters


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